Gates Regrets Luring Workers with Stock Options

Microsoft cofounder Bill Gates now says that his company's early policy of luring potential employees with low wages but massive stock options was a mistake. However, it's not clear that any of the company's earliest employees would agree: Microsoft has created more millionaires and billionaires than any company on earth, thanks to those stock options. And although Microsoft's stock has drifted back to Earth in recent years, employees still pine for the Good Old Days (tm), when a product launch could mean the difference between a condominium in Redmond and a massive estate in the mountains. In any event, Gates says that Microsoft is now more "sophisticated" and wouldn't make those mistakes again. Indeed, the company's current strategy—offering low wages and no stock options—is probably more financially sound anyway.